Part of current Hydrocarbon In Place (HCIP) which can be economically recovered to the surface under specific FDP by the end of its producing life.
It comprises:
| Oil Reserves (OR) | Gas Reserves (GR) |
|---|---|
| ( also called Recoverable Oil ) | ( also called Recoverable Gas ) |
including condensate from natural gas | including solution gas from oil |
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The volumetric value of Hydrocarbon Reserves (HCR) in NTP conditions is given by STHCR represented by two numbers: { Stock-Tank Oil Reserves (STOR) , Stock-Tank Gas Reserves(STGR) }
The percentage of recoverable Surface Tank maximum recoverable volume of Hydrocarbon Reserves (STHCR)HCR) is called Estimated Ultimate Recovery.
The percentage of Estimated Ultimate Recovery taken from the total Surface Tank Hydrocarbon Initial In Place (STHCIIP) is called Estimated Ultimate Recovery Factor (EURF):
| LaTeX Math Block | ||||
|---|---|---|---|---|
| ||||
\rm EURF = \frac{V_{STHCR}}{V_{STHCIIP}} \cdot 100 \% |
(don't get confused with Estimated Ultimate Recovery which is equivalent to STHCR).
Both formulas above do not have a practical meaning as Petroleum Production, accounting and sales are managed separately for Oil and Gas (see Oil Reserves (OR) and Gas Reserves (GR)).
Unlike Hydrocarbon Initial In Place (HCIIP), which is a geological category, the the concepts of current Hydrocarbon In Place and Estimated Ultimate Recover and current Hydrocarbon Reserves depend on the parameters of FDP based on recovery method, recovery duration, surface logistics and economics.
There are different ways of classifying the Hydrocarbon Reserves which provide the primary insight into the size, uncertainty and structure of the Hydrocarbon Reserves.
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